Professional landlords – defined as investors with 25 or more letting properties who have no income other than rents – are being courted by Metro Bank.
The lender is offering two new products to borrowers who meet the strict criteria - a 4.89% two-year tracker and a five-year fix at 5.25%.
Both have a stress test calculation for rennet cover of 125% at 5.5%.
Landlords can finance up to 10 buy to lets at any one time, providing the portfolio exposure does not break £2.5 million of borrowing at 65% loan-to-value (LTV).
Besides individuals, property companies can apply.
Richard Saulet, of Metro Bank, said: "We are always looking for new ways to support our customers and bring them the best in service and convenience. We believe there is plenty of room for more lenders to offer mortgages suited to professional residential investors, and are pleased to be able to support this group through today's extension."
Landlords in the money with Virgin
Virgin Money has cut rates on buy-to-let loans.
For property investors, Virgin Money has a new two-year 2.99% fixed rate at 60% LTV with a £2,495 fee.
Two-year fixed rates at 60% LTV are available from a reduced rate of 3.38% with a £1,995 fee.
A £750 cash back is paid across the range, except on broker exclusive arranged deals.
Virgin’s Peter Rogerson said: "We are continuing to help buy-to-let customers, and were delighted when our support for this segment was recognised in winning Best Buy-to-Let Mortgage Provider in the 2013 What Mortgage Awards.”
BM Solutions cuts rates
BM Solutions has cut rates on two-year fixed and tracker buy-to-let products up to 75% LTV by 0.2%.
Rates on all two-year products 60% LTV mortgages have also been sliced by 0.1%.
Buy to let mortgages at 75% LTV, see fixed rates starting from 3.99% and tracker rates from 3.89%. Fixed rates to 60% LTV are starting at 3.39% and trackers from 3.29%.
The mortgage range has new two-year fixed and tracker deals for properties worth more than £200,000. Available at 60% LTV and 75% LTV with a £1,295 fee, interest rates start at 3.19%.
BM Solutions head Phil Rickards said: “We have refreshed our product range to reflect the strong nature of the buy-to-let market. These further rate reductions, alongside our award winning service should help landlords, further reinforcing our commitment to the buy-to-let market.”
